They used Post-its to mark their payments -- no matter how small they were.
This article is reprinted by permission from NerdWallet. In this series, NerdWallet interviews people who have triumphed over debt. Responses have been edited for length and clarity.Bernadette Joy Maulion, 34, went to business school part time after a career in human resources, hoping to start a new chapter in her professional life. School wasn’t cheap, and she took out $72,000 in student loans.
They set out to pay off the student loans — selling things, taking on part-time jobs and adding a roommate while living mainly off of AJ’s salary as a project manager. Motivated by their success, they also paid off the rental home, then later sold it and put the proceeds toward paying down their primary mortgage.
AJ: We put a hold on my 401 contributions for a year until we paid off the student loans. We really wanted to focus and put our resources into the debt. We thought it through and said once we are done with this debt, we can contribute the maximum amount. [Editor’s note: NerdWallet recommends saving for retirement even while paying off debt, to allow time for your money to grow.]BJ: My car was on a lease, AJ’s 2009 Kia Spectra was fully paid off.
I used to hang Post-its on my refrigerator of our current debt number. Even if I could knock off a couple dollars I put it on a Post-it. For example, there’s this pair of shoes I really wanted at the store. Instead of buying them, I put that money toward the debt and put up the Post-it. I put photos of them up on Instagram and people reached out to me. They would ask, “Hey, where’s your Post-it?” That accountability from people was great.You gotta keep taking those small wins.
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